AllianceBernstein has announced it plans to launch a multimanager target date series that will be co-managed with Morningstar Associates.
The AllianceBernstein Multi-Manager Select Retirement Funds will invest in funds managed by AllianceBernstein as well as by leading investment managers including AQR, Franklin Templeton, MFS and PIMCO.
A nonproprietary fund can offer plan sponsors the advantage of an array of investment providers. In using multiple managers in a single portfolio, the new AllianceBernstein series is aimed at doing just that.
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